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Nigeria’s Iyinoluwa Aboyeji talks about the future of African start-ups

By ‘Tofe Ayeni

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Posted on July 5, 2022 16:53

 © A man poses as he displays the Flutterwave homepage on a mobile phone screen in Abuja, Nigeria January 21, 2020. REUTERS/Afolabi Sotunde
A man poses as he displays the Flutterwave homepage on a mobile phone screen in Abuja, Nigeria January 21, 2020. REUTERS/Afolabi Sotunde

Harassed by the police, criticised by the government but revered by the youth, Nigeria’s successful young ‘techtrepreneurs’ have captured the national spotlight in recent years. In a wide-ranging conversation with The Africa Report just before hopping on a plane, one of the most popular, Iyinoluwa Aboyeji, revealed why he doesn’t recognize the ‘tech bro’ label that’s often ascribed to him and shared in detail his hopes for Africa’s future.

Rather than racing for fast profits, Aboyeji describes himself as an ‘entrepreneur in the public interest’. Co-founder of New York-based $1.5b job placement company Andela, and former managing director of unicorn payments company Flutterwave, Aboyeji was named one of the top 100 most influential Africans by the New African magazine in 2019.

Dangote, Otedola, Aboyeji?

Compared to Nigeria’s traditional business tycoons, Aboyeji is a relatively young 31 years old.

Asked whether he sees himself in the same category as business magnates such as Aliko Dangote and Femi Otedola,  Aboyeji says he believes that “the older guys will do better – they have the benefit of experience and time. Wealth that is honest and sustainable is not made in one day.”

“Also, I think there have been windfall moments in our society,” he adds. “Dangote and Otedola made money at a time when the government was very

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